Lehman Brothers Holdings has secured approval from a bankruptcy judge to sell a New York building, Bloomberg reports. The property in Manhattan will be sold to L&L Holding for around $160 million. The sale was opposed by Paulson & Company, a creditor of the failed lender. Bryan Marsal, who is running Lehman and is the co-founder of restructuring firm Alvarez & Marsal, aims to raise $61 billion by offloading the lender’s assets to pay $322 billion in claims.
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